Bitcoin is having the purple patch users were praying for, and the prices are fast approaching the $13,000 mark. Everything seems to be going nicely, and amid the boom, Binance has launched Binance 2.0, which gives access margin trading to all users. Binance CEO Changpeng Zhao made the announcement via a tweet.
— CZ Binance (@cz_binance) June 26, 2019
However, many users of the platform stated that they were not able to use the new network and were denied access to it. There seemed to be a technical glitch, which Binance later agreed, and wrote that new users might face a certain issue and that it will be resolved soon.
Initially, the new platform will offer margin trading for five digital assets, namely, Bitcoin (BTC), Ripple (XRP), Binance Coin (BNB), TRON (TRX), and Ethereum (ETH), though many other tokens are likely to be introduced at a later stage. As of now, Binance 2.0 offers 2× leverage, which will also increase by the day.
Binance Chain, the underlying blockchain tech on Binance Exchange and Binance DEX, is also due for a new upgrade, dubbed Galileo, the testnet of which has just been launched. The new upgrade brings new features to the platform, like empowering validators to delist low trading coins. ‘Galileo’ allows the non-custodial exchange Binance DEX to lock tokens for a specific period of time.
Margin trading is one of the most popular forms of traditional investments trading in the world. However, the concept hasn’t seen the day in the crypto space, due to the fear of high volatility. In fact, the introduction of margin trading on a large scale in the crypto markets could make it extremely risky.